All budget targets artificial, nothing to do with reality: Hammad

BusinessAll budget targets artificial, nothing to do with reality: Hammad
  • Says Ishaq Dar failed to outline plan to reduce inflation, save sinking economy

ISLAMABAD, Pakistan: The Pakistan Tehreek-e-Insaf (PTI) senior leader Hammad Azhar has said that all targets in the Federal Budget 2023-24 are artificial and not realistic like last year besides finance minister hasn’t outline any plan to reduce inflation or to save the sinking economy.

In a reaction to Ishaq Dar’s budget speech on Friday, Hammad said: “All targets in this budget are artificial and not realistic like last year.”

   

Hammad said that targets regarding economic growth, tax collection, inflation rate, imports and remittances are written only to balance the budget as they have nothing to do with reality.

Similarly, he said that there is a figure fudging of Rs 1,000 billion in the amount of interest payments and non-tax revenue.

Hammad Azhar stated that the finance minister has not outlined any plan to reduce inflation or save the sinking economy as the industrial production fell by 25% in the last two months due to the ban on the import of raw materials and the shrinking economy.

The PTI leader went on to say that the government is totally clueless and has no plan as how to get the Country of the current quagmire.

“The budget has a new external debt target of US$ 8.5 billion but this would not be possible without IMF while the PDM government seems in no mood effective decision making because they do not care about the economy, as they are only concerned about PTI Chairman Imran Khan,” he added.

Hammad went on to say that the PDM government brought down the pace of economic growth from 6 percent to negative in one year, decreasing exports and remittances US$ 7 billion, adding that large-scale industrial output fell by 25% in the last two months.

Hammad Azhar revealed that the inflation rate has been tripled in one year and local borrowing has doubled but the PDM government has no answer as how to fix all this.

Mati
Mati
Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

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